Why is gold important?
Like other precious metals, physical gold is regarded by some as a good way to protect themselves against the ongoing devaluation of fiat currencies and from volatile stock markets. Buying gold certificates is another way to invest in the metal.
What is spot price?
The spot price of gold is the most common standard used to gauge the going rate for a troy ounce of gold. The price is driven by speculation in the markets, currency values, current events, and many other factors. Gold spot price is used as the basis for most bullion dealers to determine the exact price to charge for a specific coin or bar.
How many ounces of gold are in a bar?
Gold bars can range anywhere in size from one gram up to 400 ounces, while most coins are found in one ounce and fractional sizes.
Where is gold bullion produced?
Physical gold bullion is produced by many private and government mints both in the USA and worldwide. This option is most commonly found in bar, coin, and round form, with a vast amount of sizes available for each.
Is there a good delivery on gold bullion?
This is not common practice, however, due to the fact that there are only certain types of gold bullion products that are considered “good delivery” by the exchange and therefore one’s choices are very limited. In addition, there are numerous fees and costs associated with taking delivery on a futures contract.
Why are gold bars cheaper than coins?
Bars carry lower premiums than coins because they have no face value, are not backed by government mints, are rarely considered collectibles , and most gold bars are easier to make than gold coins. For example, today a 1 oz American Gold Eagle coin may be bought from a dealer for $1355.
What is an assay for gold?
An assay is a certificate or encasing that guarantees the purity and authenticity of the accompanying gold piece. Assays typically include a serial number, which will match the serial number imprinted on the bar. Assays will also include a signature by the official assayer of the piece.
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